30May

5 Best Localities in Mumbai for Aspiring Home-Owners

Mumbai, the city of Bollywood dreams is known to reward anyone with the tenacity to work hard and persevere. It is also the city where employment opportunities are ever-growing. Everyone who arrives into this magical city, dreams of, one day owning a home here. From renting flats in Thane, Juhu and Bandra, to becoming home-owners in Mumbai; it is the surest way to know you have arrived. Here are the best localities in Mumbai where you should rent/own a home.

Bandra: The Queen of Suburbs and the home of Bollywood stars, Bandra is one of Mumbai’s most expensive localities. Properties in Bandra, especially in its western side have always been in great demand. Bandra is known for its elite schools and posh gated societies. Getting to either sides of Mumbai, South or North is very easy from Bandra, thanks to its great transport network and infrastructure. The Bandra-Kurla Complex is one of the poshest localities in Mumbai and home to several corporate conglomerates.

Worli: Known popularly for the Queen’s necklace and the immensely famous Worli Sea Face, Worli is one of the best-connected Mumbai localities. Worli is strategically located at the centre of two of Mumbai’s significant business districts i.e. the Bandra Kurla Complex and Nariman Point. It also got a face-lift after the Bandra-Worli sea-link became operational, linking the two best parts of the city to one another.

Juhu: Regarded as India’s Beverly Hills, Juhu is home to the rich and famous of Mumbai. The other side of Juhu is the iconic Juhu Beach, visited by every tourist who’s set foot in this city. Juhu properties are highly in demand all the time. The prices, like its buildings, are also always sky-high. Certainly one of Mumbai’s prime properties, living in Juhu can be an expensive affair.

Thane: Real estate developers in Thane like Godrej Properties, Hiranandani Constructions, T Bhimjyani Realty and Piramal Realty have realized Thane’s potential as Mumbai’s top locality. What Thane lacks in terms of beaches (unlike the other names on the list), it more than makes up with its superior infrastructure and flawless amenities. In the last few years, Thane has become an up-and-coming locality, with investments from the affluent communities of Mumbai. Owing flats in Thane localities like Neelkanth Woods by T Bhimjyani Realty has become a status symbol. Thane is where luxury is affordable.

Powai: Regarded as a city in itself, Powai is another plush area which is best known for the serene Powai Lake. Homes in Powai are huge, when compared to other parts of the city. Today, Powai is one of Mumbai’s most happening hot-spots. This area in the north-eastern part of Mumbai is also known for its clubs, lounges and fine-dine restaurants. But if you’re thinking of buying a home here, be prepared to shell out a lot of money.

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26May

Things to consider while buying a flat in Thane

Purchasing a property is a nerve-wracking task. There is just so much to think about. After all, buying a home is a life-long commitment, for most of us. With property rates sky-rocketing every single year, there are a lot of things to keep in account before we zero in, into the place we can call home. One popular area that is gaining attention for its affordable ownership homes is Thane in Mumbai. Here are some things you must consider if you are planning to buy a property for sale in Thane.

Thane is set for exponential growth:  An integral part of the Mumbai Metropolitan Region or MMR, Thane is set for major infrastructure development plans. The MMRDA has already approved several projects making it a central location for exponential growth. With evolving socio-cultural infrastructure and increased commercial and retail spaces, Thane has truly become self-sufficient.

Thane has grown over 400% in the last decade: In the last decade or so, Thane has become the venue of several popular art festivals in Mumbai. To top this, 5 hospitals and 9 shopping malls have come up in just 8 years. Despite being one of the most rapidly developing parts of Mumbai, Thane is also a great place to live in, for its abundant greenery and fresh air, thanks to over 30 lakes and 50 gardens in the area. If you consider buying 1, 2 or 3 bhk flats in Thane, chances are that you will be living in a locality which has all the above mentioned amenities at a walking distance.

Consider the locality: Most locations in Thane have a high potential for growth in the near future. In order to get a return on your investments, you must consider purchasing a flat in an area which has superb infrastructure such as broad roads, connecting highways and good residential and commercial complexes. You could consider buying a home in an area like Ghorbunder Road or Manpada where there are good facilities for healthcare and education.

Advantages of booking an under-construction property: When you book a property that is under construction, you have the advantage of entering the market at a lower price point. You can also choose a flat when it is ready for possession. The payment cycle is also spread over the years. A thing to remember though is to choose a reputed builder like T Bhimjyani Realty, known for their Neelkanth Woods Olivia project.

Advantages of booking a ready-made property: If you’re tired of paying huge rents and in in a hurry to become a home-owner, you can consider purchasing a ready-to-move in property. This gives you the edge of getting a first-hand view of your vicinity and also gives you the time to get to know your neighbours. You can find ready-to move-in, 3 bhk flats in Thane for sale, easily.

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19May

The new face of Thane – Why the Mumbai locality has become a hot-spot for home investment

The crème de la crème of Mumbai, have, for decades purchased land in uber-rich areas of Mumbai like Cuffe Parade, Hill Road and Juhu. But in the last five years or so, the often under-rated area of Thane, has become a hot property. In fact, according to a report, Thane has become one of the top 20 cities in the world in which the affluent are investing their wealth. Real estate developers in Thane are being sought by investors who are convinced that Thane is the new face of Mumbai. So what has caused Thane to become a Mumbai hot-spot?

Thane as an IT hub: Most information technology companies in the urban areas of Mumbai have shifted base to Thane, giving it the reputation of an emerging technology and service industry hub. The reason for this is simple; the rents in Thane are lower and the properties, larger in size. Companies prefer to pay a rent for a bigger working space as opposed to smaller spaces in the posh areas of the city.

Superior quality infrastructure: Purchasing 1, 2 or 3 bhk flats in Thane areas like Ghorbunder Road, Manpada, Kasarvadavali and Majiwada give you access to good national and international schools. There are also good healthcare facilities available on demand, as well as premium malls. Besides these, travelling in and out of Thane has also become convenient, thanks to the local transport network and well-designed bus routes.

Industries and factories have closed down: Thane was once known for its industrial units and factories. It has now paved the way for premium real estate projects. With the closing of these industrial units and factories, the stench emitted from the factories and the air-pollution is no longer a nuisance. In fact, if you purchase a property for sale in Thane, you are looking at living in an area with wonderful lakes and gardens.

Lower prices make properties desirable: Unlike those posh areas of Bandra, Colaba, Nepean Sea Road or Juhu, purchasing flats in Thane, is so much more economic. The lower price factor, coupled with all the modern amenities in place, makes purchasing a flat in Thane, a worth-while investment. Purchasing a property here does not hamper your bank balance, as compared to the posh areas where you must pay excessive amounts. Thane is truly a great alternative for property investment.

The emergence of the real estate industry: With Thane emerging as one of the better areas in Mumbai to live in, several high-profile real estate developers in Thane and Mumbai, such as Hiranandani Constructions, Godrej Properties, T Bhimjyani Realty, Runwal Builders, Piramal Realty and Rustomjee builders have started projects in the city. In Manpada and Ghorbunder, Neelkanth Woods Thane by T Bhimjyani Realty has become a premier property to consider.

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6May

Renting a home in Thane – Consider these locations

Renting a home in a city like Mumbai is no easy task. It is a mammoth task to find a locality that has every necessary amenity. If you prefer to live in a locality that gives you quick access to amenities and world class infrastructure, while the rental rates are also lower, you should seriously consider Thane. If you’re looking for rental flats in Thane, here are the best localities to choose from.

Ghodbunder Road: One of Thane’s fastest developing stretches of land, Ghodbunder Road has witnessed rapid development in every sense. The real estate industry in Ghodbunder Road is certainly booming. In the past few years, some of the most reputed developers have come up with new projects in Thane Ghodbunder Road, which are especially ideal for people looking to raise a family. Besides this, Ghodbunder Road is strategically located, connecting Thane to the Western Express Highway. Whether it is a home you wish to own or live in rented spaces, Ghodbunder Road is an ideal location.

Average rent per month: ₹13,000 per month for 2BHK and ₹19,000 per month for 3BHK

Majiwada: One of Thane’s oldest localities, Majiwada is well connected to the suburbs and urban areas of Mumbai. The chances of getting stuck in the traffic are significantly diminished, thanks to the Eastern Express Highway which allows you to drive signal-free, straight into South Mumbai within a matter of minutes. The Thane railway station is also close to Majiwada, giving access to local trains. Thane station also serves as a halting point for several out-station trains. Most people opt to rent out 2BHKs in this area.

Average rent per month: ₹15,000-₹17,000 per month for 2BHK

Thane West: Thane west is home to up-market localities such as Manpada, Kasarvadavali, Azad Nagar, Anand Nagar and Dhokali. Real estate in Thane West has seen the rise of several new luxury projects undertaken by renowned builders such as Hiranandani Constructions, T Bhimjyani Realty, Godrej Properties and Piramal Realty among others. Thane west has truly become a hot-spot with infrastructure that is developing at the speed of light. Besides, the rents here are also quite low. If you are living in a joint family setting, you could always rent 2.5 bhk flats in Manpada.

Average rent per month: ₹10,000-₹15,000 per month for 2.5BHK

Vasai East: Perhaps the most affordable locality in suburban Mumbai, the Vasai region of Thane is as developed as its others counterparts. But in the recent years, the area has received a huge face-lift with more and more developers storming in with good residential projects. Today, Vasai East is recognized for its semi-urban infrastructure and is a smart investment option, although not at par with areas like Manpada, Ghodbunder Road and Majiwada. Yet renting a home here is exceptionally affordable.

Average rent per month: ₹4000 for 1BHK and -₹7,000 per month for 2.5BHK

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2May

Buying a House in Mumbai – A guide to taking the right steps

One of the most over-whelming feelings one can ever have is when they set out to purchase their dream home. There is so much to think about. Do you want to buy a brand-new property or an existing one? Do you want a home that is ready-to-move in or one that is under construction? Will you be able to afford it? Making these decisions is no easy task. Here are a few things you must remember when you become a home-owner, or are planning to become a home owner in Mumbai.

Take your time to decide: Buying a home in Mumbai is really expensive. You must find your potential property and figure out what you expect from your locality in terms of amenities offered, specifications and features. Next, you must tour the properties and see which ones fulfil your needs and whether they suit your budget. If you have really set your mind on becoming a home-owner in Mumbai, you could consider buying a property for sale in Thane, one of Mumbai’s poshest localities in the making.

Find the right realtor: It is important to find, not only the right agent but also the right realtor. You must look for established realtors who’ve set up prestigious projects along with the right agent with adequate knowledge about the locality you intend to live in. Also ensure you bring your negotiation skills to the fore. Buying a property for sale in Thane, as opposed to other parts of the city is a worthy option.

Read up about real-estate agencies and their projects: Make sure you do your home-work and find out about the best realtors in town. Realtors like Godrej Properties, Hiranandani Constructions, T Bhimjyani Realty and Piramal Realty are some of the best names in the business and have built properties in Thane, South Mumbai, Mumbai suburbs and other parts of the city. The Neelkanth Woods Olivia project by T Bhimjyani Realty in Thane is a great idea for investment.

Location is the key: Location is also a parameter you should have in mind before becoming a home-owner, after all your home remains your life-long asset. If you intend to put your home up for rent, you must find out if the area has the potential to bring you a decent rent. Also learn up the upcoming facilities and existing amenities that can get you a good return on investment when you intend to sell it. Real estate in Thane West, Andheri, Jogeshwari, Goregaon and Kandivali is on the rise right now with the latest infrastructure in place.

Being well informed is necessary: First-time buyers must ensure that they have familiarized themselves with the complete process of buying a home. Even if you have purchased a property before, it is advised that you read up or question your realtor about the changes in the real estate market. Ensure you get vital information about overhead charges like registration fees, stamp duty, property tax, brokerage, legal fees, etc.

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30Apr

Location – Why It Plays a Major Role in Buying an Apartment in Thane

Purchasing a property is a huge investment. There are several factors to consider, as a first time owner is often confused about the first steps to take in becoming a property owner. While considering the budget is of primary importance, there are other factors also that need to be accounted for, such as the locality, the amenities, the neighbourhood and so on. If you’re living in Mumbai, you may be tempted to buy a home in posh areas like Juhu, Colaba or Bandra, but the property rates in these areas may put a damper on your dreams. So, what if we told you that there is a Mumbai locality, known for the finest realty projects, offering world-class amenities at affordable prices. Yes, today, you can find the most premium flats for sale in Thane at extremely affordable rates.

Why Thane?

Sure, Thane had the reputation of being a smoke-emitting, pollution producing industrial city formerly. But that is a thing of the past. In the last decade or so, Thane has emerged as a hub for extra-ordinary, world class facilities in every imaginable sector. Whether it is the education industry or the health-care one, whether it is the shopping complexes or entertainment options, the development of Thane as a futuristic city is of epic proportions. Whether you choose to purchase flats in Thane West or East, you are making a worthwhile investment.

Thane is ideal even if you intend to buy a home for investment purposes

A huge number of buyers purchase a property for investment purposes. If you too are one among them, then you will find that Thane is ideal for investment as you can purchase comfortable and spacious homes that would attract all types of renters. You can in fact use the rent earned to pay off the EMI on the home. If you’re purchasing the property without any loans, the rent from the home can serve as additional income. If you are looking for a long-term investment options, then you could consider investing in under-construction residential projects in Thane. As they are under construction, the prices are bound to increase once the project is completed. This further works in favour of your investment, thus helping you get higher returns.

Thane is a great place to raise your family

Even if you intend to use the property for personal uses, Thane is a wonderful locality to consider. Thane is home to several reputed international and elite schools. Besides, several reputed training institutes from Mumbai have also opened branches in Thane. Other than this, Thane’s hospitals are known for their state-of-the-art facilities and are frequented by the finest doctors in the city, securing your health-care concerns for children and older parents.

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24Apr

Planning to Invest in Under-Construction Projects – Consider These 4 Tips!

Every individual has a vision of what his dream home should look like. The number of rooms, the area per square feet, the locality, and the amenities available in the locality are a few of the obvious concerns when one sets out to purchase a home. That property investment is a life-long investment is a known fact. It is therefore essential to do a thorough research about the real estate agency from whom you choose to purchase your property. Many of us refrain from buying ready-to-move-in flats because there is little scope to make any changes or have some customizations done as per our requirement. Perhaps, this is why more and more people in Mumbai prefer to invest in under construction projects in Thane.

Irrespective of this, it does not matter whether you want to invest in a ready-to-move-in apartment or under construction property; here are some traps a lot of buyers tend to turn a deaf ear to.

1.    It is of paramount importance to get everything in writing when you are buying a flat. As a potential homeowner, ensure you do not make the mistake of signing on everything without reading it. Ensure everything is agreed and negotiated before you sign on the dotted lines. If you are planning to invest in an under-construction property, then talk with the builder to understand timelines regarding project completion, possession period, repercussions in case of inability by the realtor to honour the commitments etc. Ask as many questions you can, but, ensure the answers are in a written format.

2.    The property or apartment will be purchased from a builder, and hence it is important ensure that the builder has clear records. For the same, you might want to ask around, get in touch with the builder’s former clients, know if the project was delivered on time, and so on. In short, ensure the builder you plan to consider for new projects in Thane or any other city, is trustworthy. Builders like T Bhimjyani Realty, Piramal Realty, Lodha Group etc., are reputed names in the real estate industry.

3.    As a potential homebuyer, it is important you ask for the commencement certificate of the floor. This certificate plays a pivotal role in case the construction is not done on time. Say for example, if the apartment you booked for is on the 10th floor, but the construction is completed only till 5th floor, then asking for this certificate proves beneficial.

4.    Another vital aspect that cannot be neglected when investing in new residential projects in Thane and around is asking for the construction’s project drawing copy. This majorly includes duly stamped documents by the authorities, floor plan and so on. Apart from this, also check if the builder has the ownership of the land where the construction is going to take place.

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14Apr

Keep these Aspects in Mind If you are Planning to Take NRI Home Loans

Owning a home is perhaps the biggest dream of the working class man. People toil for years to save enough money to be able to afford a down-payment into a place they can call their home. Some even leave the country to improve their prospects of owning a home, buy finding means to earn in countries with stronger currencies. Such individuals are called NRIs. Due to high conversion rates in foreign currencies, NRIs can save more and have a secure place to call their home when they return to their motherland. There is a huge scope for NRI investment in real estate in India. NRIs wishing to invest in a home in India must be aware of factors that make them eligible for a loan. Here is everything you need to know about procuring NRI home loans.

Type of NRI loans

If you are planning to invest in a property, then as an NRI you might want to consider applying for home loans. It majorly includes:

•    Upgrading an existing property
•    Property under construction
•    Construction of property on the land already owned
•    Ready to move in property

Loan Amount Can Be Availed

NRI loan amount is decided on a number of factors. It majorly includes income of the NRI, which should be consistent and steady. Besides, Gross Monthly Income is also taken into consideration. This further helps in deciding on the Monthly Equated Income or EMI. As the name suggests, an NRI has to pay on a monthly basis with certain amount as interest. Get in touch with banks and financial institutions for every agency tends to have different eligibility criteria.

Home Loan Tenure and Rate of Interest

It is vital to know that an NRI can avail home loan for a limited period of time. Say for example, 5 – 15 years. The extension for the nri property investment in india is dependent on the bank’s decision. The bank exercises its discretion regarding loan extension. However, for whatever reasons, if the bank does not comply, the loan must be repaid in the pre-decided, stipulated period. It is vital to know that the rate of interests on NRI home loan is high. So, seek expert help in case of any queries.

Documents Needed

To facilitate easy and hassle-free loan disbursals, NRIs must provide the following documents, as requested by the bank.

1.    Passport Copies
2.    Employment contract
3.    Salary Slips
4.    Valid work visa and permit
5.    Bank statements in NRO and NRE accounts

These are some factors every NRI planning to invest in Indian real estate with the help of home loan should be aware of. Go through the nri corner on the bank’s or realtor’s website or for more details.

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9Apr

Why Homebuyers Prefer 3 BHK in Thane?

Big, spacious, affordable; these are the three words described by potential home-owners on the look-out for a new home. It is especially true of families where three generations of people reside under the same roof. But bigger homes, usually come with a bigger price tag, making it a distant dream for many, especially if they are living in a city like Mumbai, where property rates kiss the skies with every passing day. If you are an aspiring home-owner with the dream of owning a home in Mumbai, look no further than Thane. You can purchase the most plush and comfortable 3 bhk flats in Thane, in budgets that can easily fit your pockets. Here’s why purchasing a 3BHK apartment in Thane is a great idea.

Great for Large Families

In a city like Mumbai, where living in cramped spaces has become a reality, people don’t have enough privacy. People live in homes where living rooms are converted into bedroom when it is time to call it a night. They sleep on sofa-cum beds instead of a proper bedroom. But with a 3 BHK apartment in an area like Thane, every family member can have their own nook to retire into. The fact that you will spend the same amount on a 3BHK in Thane as you would on a 1 BHK in areas like Juhu, Bandra or Colaba, makes Thane an attractive city.

Not Much of a Price Difference

A lot of people are of the view that 3.5 bhk flats in Thane are expensive. However, there is not really much of a difference in price between a 2 BHK and 3 BHK apartments in Thane. There is a marginal difference, which is why people prefer to purchase a 3 BHK over 2 BHK. After all, both homebuyers and investors are ready to shell out a little bit more for luxury, comfort and space. This has further led to a number of real estate companies offering flats by keeping a marginal cost difference.

Great for Investment

Apart from providing additional comfort and space, a 3 bhk flat in Thane is affordable too. People who have no intention to shift to Thane can still invest in these apartments. With Thane being a futuristic city, it serves as a perfect investment option, as the rates of apartments are bound to increase. Since bigger apartments fetch higher rental incomes too, investing in them is definitely a better idea.

A Strategic Location

Thane is home to the finest, most luxurious real-estate residential and commercial complexes. It has emerged as a hub with tremendous opportunities for shopping and entertainment, besides also housing some of the finest educational and health care facilities in the city. Thane has also emerged as a location where top companies are setting up shop. The apartment rates are reasonable as compared to other Mumbai locations.

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2Apr

Why Invest in 2.5 BHK Apartment?

In the older days, even the largest of families were comfortable staying in a 1BHK. But as time passed by and people began having accesses to bank loans and a growing purchasing power, they began preferring to live in homes with more than 1 bedroom. The benefits of living in a multi-bedroom home were many in that, family members could have their own personal space, making it more comfortable for people living in joint families. In a city like Mumbai, purchasing a 2.5 BHK comes at a hefty price. But with the growing affinity for Thane thanks to its rapidly developing infrastructure, more and more Mumbaikars are opting for 2.5 BHK flats in Thane. Let’s find out why.

Why Consider Thane?

Over the years, Thane has grown into a major residential area. Thane is no longer known for its pollution-emitting industries but has emerged as one of the poshest residential localities in Mumbai. Another major reason for its growing popularity is because of the affordable rates of the apartments coupled with its fantastic amenities. The rates are reasonable and easily fit into the budget of a common man. Thane is a budding city that has witnessed tremedous growth as far as both residential and commercial real estate is concerned. Besides, the improved public transportation facilities link Thane to the heart of Mumbai city in a jiffy.

Here are some of the reasons that tell why you need to invest in a 2.5 BHK apartment in Thane:

Better Financing Options

With so many realty companies setting up multiple luxurious projects in Thane, the city is also seeing a rise in attractive financing options that potential home-owners can avail. If you wish to purchase a 2 BHK flat in Thane, every established realtor like Lodha Group, T Bhimjyani Realty, Piramal Realty etc., will guide you with the best financing options. You can choose a home loan at a flat or floating rating with big tenures and lower EMIs.

Great Savings on Investment

Real estate has always been an investment option for many. Your own home is not only the biggest investment you can make, it also gives you the comfort of security. While one can purchase a bungalow or a row-house, it is always easier to sell an apartment like a 2.5 BHK in Thane, should the need arise. A fully furnished 2 BHK in Thane is offered at rates which are affordable and can easily fit into your budget.

Works Great for Families

A home with a 2BHK affords every family member their own private space. Children can have their own room as can couples. 2 or 2.5 BHK flats in Thane are enough for a family of 4 people and eliminate the need of living in a cramped space and making the living room a make-shift bedroom. It also works great in case you have families or friends visiting for a few days.

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